(Reuters) – Constellation Brands Inc (STZ.N: Quote, Profile, Research, Stock Buzz), the world’s largest wine company, posted lower-than-expected quarterly earnings on Tuesday after higher grape costs hurt margins.
Yet the maker of Robert Mondavi and Ravenswood wines raised its forecast for the full fiscal year, saying more attractive financing terms for its recent beer acquisition should lead to lower interest expense.
(Reuters) – ConAgra Foods Inc (CAG.N: Quote, Profile, Research, Stock Buzz) on Thursday posted a quarterly profit slightly ahead of Wall Street estimates and raised its long-term outlook, citing increased cost-savings from its acquisition of Ralcorp Holdings.
ConAgra, whose shares rose 4.7 percent in early trading, closed its $5 billion purchase of Ralcorp in January, making it the leading U.S. manufacturer of “private label” foods, which retailers brand as their own. It also sells branded products, including Chef Boyardee pasta and Hunt’s ketchup.
June 26 (Reuters) – Coca-Cola Co announced plans on
Wednesday to introduce a cola that is sweetened with sugar and
the naturally occurring, no-calorie sweetener stevia, the latest
move in the high-stakes race to turn around the soda industry.
Coca-Cola Life will have about half the calories of regular
Coke. It will go on sale this week in Argentina, where Coca-Cola
has 50 percent of the soda market, compared with PepsiCo Inc’s
16 percent, according to industry newsletter Beverage
Digest, which was first to report the news.
(Reuters) – Coca-Cola Co (KO.N: Quote, Profile, Research, Stock Buzz) announced plans on Wednesday to sell a mid-calorie cola sweetened with sugar and the naturally occurring no-calorie sweetener stevia in Argentina, becoming the first to market with a product long seen as being critical to the soda industry’s growth.
The new product, Coca-Cola Life, will have half the calories of regular Coca-Cola.
June 26 (Reuters) – General Mills Inc reported
higher fourth quarter-earnings but gave a forecast for the new
fiscal year that was below Wall Street estimates, citing higher
costs for ingredients and a slow economic recovery.
Shares of the maker of Cheerios cereal, Progresso soup and
other packaged foods fell less than 1 percent in afternoon
BATAVIA, NEW YORK, June 23 (Reuters) – PepsiCo Inc -
best known for Pepsi-Cola and Frito-Lay chips – is taking its
Muller yogurt brand nationwide expanding its portfolio of
healthier foods at a time that U.S. consumers are increasingly
shunning traditional soft drinks.
Yogurt is one of the fastest selling categories in grocery
stores, and PepsiCo sees plenty of room for growth even though
it has come late to the party.
(Reuters) – Starboard Value LP revealed a major stake in Smithfield Foods Inc on Monday and urged the world’s largest pork producer to explore a breakup rather than go ahead with a planned $4.7 billion takeover by Chinese meat company Shuanghui International.
The activist investor, now Smithfield’s (SFD.N: Quote, Profile, Research, Stock Buzz) biggest shareholder with a 5.7 percent stake, said Smithfield might be worth “well in excess” of the $34 per share offered by Shuanghui (1241.HK: Quote, Profile, Research, Stock Buzz) if it split into hog production, pork and international units and shopped the businesses separately.
(Reuters) – Herbalife Ltd (HLF.N: Quote, Profile, Research, Stock Buzz) said on Tuesday it has engaged PricewaterhouseCoopers LLP PWC.UL as its auditor, replacing KPMG in the wake of alleged insider trading.
Shares of the nutritional products company rose 4 percent in afternoon trading, as the engagement of an auditor is often seen as lending credibility to a company’s financial statements.
(Reuters) – Campbell Soup Co (CPB.N: Quote, Profile, Research, Stock Buzz) reported higher-than-expected quarterly earnings and raised its full-year forecast on Monday on improved sales, sending its shares up 2.5 percent in premarket trading.
The world’s largest soup maker said net income rose to $181 million, or 57 cents per share, in the fiscal third quarter ended April 28, from $177 million, or 55 cents per share, a year earlier.
(Reuters) – A small-batch vodka made in Austin, Texas, has found its way onto one of the world’s biggest airlines.
Tito’s Handmade Vodka, created by geologist and geophysicist Bert “Tito” Beveridge, is now the exclusive vodka supplier to United Airlines, the companies are set to announce on Friday.